Shell Petroleum B.V. has announced the sale of its entire interest in Shell Nigeria Gas Group to Vaaris Energy Limited, a Nigerian company.
The transaction covers Shell’s domestic gas distribution business in Nigeria, marking its exit from the sector.
In a statement on Tuesday, Shell said the business had served industrial and commercial customers across Nigeria for more than 25 years.
“Shell Nigeria Gas has served industrial and commercial customers in Nigeria for more than 25 years, supported by the commitment and expertise of its people.
“We believe this agreement provides a much stronger platform for the business’ next chapter under new ownership. Shell continues to focus on strategic Deepwater and Integrated Gas positions in Nigeria,” the company said.
